Tag: Africa economy

Macron unveils $27 billion Africa fund to rival China’s growing influence
BusinessGlobal News

Macron unveils $27 billion Africa fund to rival China’s growing influence

French President Emmanuel Macron has unveiled a €23 billion ($27 billion) investment plan for Africa, targeting energy, agriculture, digital infrastructure and maritime industries as France looks to strengthen economic ties across the continent and push back against China’s growing influence.  The announcement was made during the Africa Forward summit in Nairobi, where African leaders, investors and business executives gathered to…

Oluwatosin Alao Oluwatosin Alao
Zimbabwe plans gradual shift from U.S. dollar to ZiG to restore trust
BusinessGlobal News

Zimbabwe moves to reduce reliance on U.S. dollar amid currency shift

Zimbabwe is stepping up efforts to ease its dependence on the U.S. dollar, part of a broader plan to restore confidence in its local currency and steady the economy after years of instability. The push reflects growing concern among policymakers that dollarisation has weakened the country’s ability to manage inflation and guide economic policy.  For more than a decade, the…

Oluwatosin Alao Oluwatosin Alao
Botswana signs Oman energy, mining deals to cut diamond reliance
BusinessTechnology

Botswana, Oman strike energy, mining deals to boost Africa ties

Botswana is stepping up efforts to reduce its reliance on diamonds, signing new agreements with Oman that span energy, mining and infrastructure. The deals come as the Southern African country faces softer global demand for diamonds, a sector that has long supported public finances and economic growth.  For years, diamonds have accounted for about a third of Botswana’s economy. But…

Oluwatosin Alao Oluwatosin Alao
Egypt dims Cairo nightlife as rising fuel costs force early closures
BusinessGlobal News

Egypt curbs Cairo nightlife to ease rising energy costs

Egypt is tightening energy use in Cairo, dimming its nightlife as rising fuel costs and regional tensions strain public finances and the power grid. Authorities have ordered earlier business closures and reduced street lighting, a notable shift for a city known for its late-night pace.  The move reflects growing pressure on Africa’s third-largest economy as higher global energy prices push…

Oluwatosin Alao Oluwatosin Alao
Mozambique debt crisis deepens as World Bank weighs support
BusinessTechnology

World Bank weighs options to ease Mozambique’s mounting debt burden

Mozambique’s debt crisis is worsening, pushing the World Bank to step up efforts to support the Southeast African nation as borrowing costs rise and investor confidence weakens.  The strain reflects wider pressure across emerging markets, where tighter global financial conditions and geopolitical tensions are making it harder for governments to access affordable funding. For Mozambique, those challenges are compounded by…

Oluwatosin Alao Oluwatosin Alao
A TotalEnergies fuel station illuminated at night, showcasing the company’s retail network presence.
BusinessLuxury

Mozambique bonds jump as TotalEnergies resumes LNG project

At a Glance Mozambique’s sovereign bonds surged on Monday after France’s TotalEnergies SE lifted force majeure on its $20 billion liquefied natural gas project — a long-awaited move that marks a turning point for one of Africa’s most ambitious energy ventures.  The decision has revived confidence among investors who view the LNG development as central to Mozambique’s economic recovery. It…

Oluwatosin Alao Oluwatosin Alao
Top 20 African economies by GDP 2025
BusinessHot News

Top 20 African economies by GDP 2025

Africa’s top 20 economies in 2025 show sharp contrasts, from resource-rich giants to fast-growing service hubs shaping future growth.

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